Business News

U.S. retail sales surged in May, as consumers step up spending after a cautious start to the year. Sales at retailers and restaurants rose 1.2% from the prior month to a seasonally adjusted $444.9 billion. (WSJ)

Applications for unemployment benefits remained below 300,000 for a 14th straight week, a sign of labor market strength that will help fuel U.S. growth. The data indicate employers are retaining workers in anticipation of a pickup in demand this quarter after a slow start to the year. (Bloomberg)

Boeing, which together with European rival Airbus dominates the market for commercial airlines, forecast that emerging economies will drive demand for new planes over the next twenty years. Boeing predicts demand for plane orders for the next 20 years to 38,050 - which will have value of about $5.6trillion. (Financial Times)

Average long-term U.S. mortgage rates jumped this week to their highest levels of the year, with the key 30-year loan topping 4% for the first time since late 2014. (CNBC)

Join us Saturday at 10 for Financial Focus Radio when we will tell you what I am looking for when I take my economic investigations to Greece.


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